PAYMENT OF ALLOWED CLAIMS Sample Clauses

PAYMENT OF ALLOWED CLAIMS. As promptly as is practicable, and in any event within fifteen days, after a Claim (or a portion thereof) is determined to be an Allowed Claim, or if at the time a Notice of Claim with respect to such Claim (or portion thereof) was given in accordance with Section 4(a), such Claim was not liquidated in amount, then as promptly as practicable after the later to occur of (i) such Claim (or portion thereof) becoming an Allowed Claim in accordance with the provisions of Section 4(b) above and (ii) such Claim (or portion thereof) becoming liquidated and written notice thereof is given by LeukoSite to the Escrow Agent and the Stockholders' Representatives, the Escrow Agent will release from escrow and deliver to LeukoSite a number of Escrowed Securities (to the extent Escrowed Securities remain available) sufficient to satisfy such Claim (or portion thereof), registered to LeukoSite. For purposes of calculating the number of Escrowed Securities to be delivered to LeukoSite pursuant to this Section 4(c), the cash value of each share of LeukoSite Stock and of the Merger Conversion Shares shall be conclusively deemed to equal $11.88 per share (such dollar figure to be proportionately adjusted to reflect stock splits, stock dividends, reverse stock splits, and other recapitalizations, reorganizations and similar events affecting LeukoSite Common Stock and occurring after the date of this Agreement, notice of which having been given to the Escrow Agent.).
AutoNDA by SimpleDocs
PAYMENT OF ALLOWED CLAIMS. During the term of this Escrow ------------------------- Agreement, the Escrow Agent shall deliver to Semtech Escrow Shares having a value equal to the amount of any claim allowed in accordance with the provisions of Section 3, free and clear of any interest of the Shareholders therein, effective on the business day next following the day on which the claim is allowed, or as soon thereafter as reasonably practicable. For purposes of such payment, the per share current market value of such shares shall be equal to the closing price for Semtech Shares as reported on NASDAQ-NMS on October 4, 1995. To the extent that any claim allowed hereunder would require the issuance of fractional shares, the amount of such claim shall be rounded to the nearest amount such that the issuance of fractional shares shall not be required.
PAYMENT OF ALLOWED CLAIMS. A claim for Taxes against any member of the Eldex-Xxxxxxx Xxxgroup that is treated as an allowed claim for bankruptcy purposes shall be the responsibility of the Eldex-Xxxxxxx Xxxgroup.
PAYMENT OF ALLOWED CLAIMS. As promptly as is practicable, and in any event within fifteen (15) days, after a Claim (or a portion thereof) is determined to be an Allowed Claim, or if at the time a Notice of Claim with respect to such Claim (or portion thereof) was given in accordance with Section 4(a), such Claim was not liquidated in amount, then as promptly as practicable after the later to occur of (i) such Claim (or portion thereof) becoming an Allowed Claim in accordance with the provisions of Section 4(b) above and (ii) such Claim (or portion thereof) becoming liquidated and written notice thereof is given by Cubist to the Escrow Agent and the Shareholders' Representative, the Escrow Agent will, FIRST, release from escrow and deliver to Cubist a number of Escrowed Securities (to the extent Escrowed Securities remain available), registered to Cubist, and, SECOND, the amount of cash (to the extent cash is available) in the Escrow Fund, sufficient to satisfy such Claim (or portion thereof). Notwithstanding the foregoing provisions of this Section 4(c), no payment shall be made to Cubist under this Section 4(c) with respect to any Section 4.2(b) Claim until the later of (i) the business day immediately following the Cut-Off Date (as defined in Section 5(a) below), (ii) the date on which there are no Disputed Claims arising under Section 4.2(a) of the Shareholders' Agreement, or (iii) if such Section 4.2(b) Claim is a Disputed Claim, the date on which such Section 4.2(b) Claim is required to be paid pursuant to Section 5(b) or Section 5(c) hereof, whereupon the Escrow Agent shall, FIRST, release from escrow and deliver to Cubist a number of Escrowed Securities (to the extent that Escrowed Securities remain available) sufficient to satisfy such Section 4.2(b) Claim (but in no event shall the number of such Escrowed Securities released be greater than the PRO RATA interest (determined in accordance with the respective percentage interests in the Escrow Fund of the Shareholders as set forth on SCHEDULE 1 attached hereto) in the Escrowed Securities that remain available at such time of the Shareholder against whom such Section 4.2(b) Claim is made), and SECOND, release from escrow and deliver to Cubist an amount of cash (to the extent that cash is available) sufficient to satisfy such Section 4.2(b) Claim (but in no event shall the amount of cash released be greater than the PRO RATA interest (determined in accordance with the respective percentage interests in the Escrow Fund of the Sh...
PAYMENT OF ALLOWED CLAIMS. First Priority and Second D. Priority Payments........................................... 9
PAYMENT OF ALLOWED CLAIMS 

Related to PAYMENT OF ALLOWED CLAIMS

  • Payment of All Fees The Company shall have paid the required Commission filing fees relating to the Shares within the time period required by Rule 456(b)(1)(i) of the Act without regard to the proviso therein and otherwise in accordance with Rules 456(b) and 457(r) of the Act and, if applicable, shall have updated the “Calculation of Registration Fee” table in accordance with Rule 456(b)(1)(ii) either in a post-effective amendment to the Registration Statement or on the cover page of a prospectus filed pursuant to Rule 424(b).

  • Payment of Amounts The Death Benefit payable on the death of the Owner, or after the death of the first Owner, or upon the death of the spouse who continues the Contract, will be distributed to the designated Beneficiary(s) as follows:

  • Payment of Salary and Receipt of All Benefits Employee acknowledges and represents that, other than the consideration set forth in this Agreement, the Company has paid or provided all salary, wages, bonuses, accrued vacation/paid time off, premiums, leaves, housing allowances, relocation costs, interest, severance, outplacement costs, fees, reimbursable expenses, commissions, stock, stock options, vesting, and any and all other benefits and compensation due to Employee.

  • Disputed Claims 4.1 Notwithstanding paragraph 4.5 of this Schedule, payment by the Authority of all or any part of any invoice rendered or other claim for payment by the Contractor shall not signify approval of such invoice/claim. The Authority reserves the right to verify invoices/claims after the date of payment and subsequently to recover any sums which have been overpaid. 4.2 If any part of a claim rendered by the Contractor is disputed or subject to question by the Authority either before or after payment then the Authority may call for the Contractor to provide such further documentary and oral evidence as it may reasonably require to verify its liability to pay the amount which is disputed or subject to question and the Contractor shall promptly provide such evidence in a form satisfactory to the Authority. 4.3 If any part of a claim rendered by the Contractor is disputed or subject to question by the Authority, the Authority shall not withhold payment of the remainder. 4.4 If any invoice rendered by the Contractor is paid but any part of it is disputed or subject to question by the Authority and such part is subsequently agreed or determined not to have been properly payable then the Contractor shall forthwith repay such part to the Authority. 4.5 The Authority shall be entitled to deduct from sums due to the Contractor by way of set-off any amounts owed to it or which are in dispute or subject to question either in respect of the invoice for which payment is being made or any previous invoice.

  • Tax Claims Notwithstanding any other provision of this Agreement, the control of any claim, assertion, event or proceeding in respect of Taxes of the Company (including, but not limited to, any such claim in respect of a breach of the representations and warranties in Section 3.22 hereof or any breach or violation of or failure to fully perform any covenant, agreement, undertaking or obligation in Article VI) shall be governed exclusively by Article VI hereof.

  • Covered Claims Claim" means any claim, dispute or controversy between you and us that in any way arises from or relates to this Agreement, the Account, the issuance of any Card, any rewards program, any prior agreement or account. "Claim" includes disputes arising from actions or omissions prior to the date any Card was issued to you, including the advertising related to, application for or approval of the Account. "Claim" has the broadest possible meaning, and includes initial claims, counterclaims, cross-claims and third-party claims. It includes disputes based upon contract, tort, consumer rights, fraud and other intentional torts, constitution, statute, regulation, ordinance, common law and equity (including any claim for injunctive or declaratory relief). "Claim" does not include disputes about the validity, enforceability, coverage or scope of this Arbitration Provision or any part thereof (including, without limitation, the prohibition against class proceedings, private attorney general proceedings and/or multiple party proceedings described in Paragraph C.7 (the "Class Action Waiver"), the last sentence of Paragraph

  • Payment of Claims A. If advance payment of all or a portion of the Grant funds is permitted by statute or regulation, and the State agrees to provide such advance payment, advance payment shall be made only upon submission of a proper claim setting out the intended purposes of those funds. After such funds have been expended, Grantee shall provide State with a reconciliation of those expenditures. Otherwise, all payments shall be made thirty five (35) days in arrears in conformance with State fiscal policies and procedures. As required by IC § 4-13-2-14.8, all payments will be by the direct deposit by electronic funds transfer to the financial institution designated by the Grantee in writing unless a specific waiver has been obtained from the Indiana Auditor of State B. Requests for payment will be processed only upon presentation of a Claim Voucher in the form designated by the State. Such Claim Vouchers must be submitted with the budget expenditure report detailing disbursements of state, local and/or private funds by project budget line items. C. The State may require evidence furnished by the Grantee that substantial progress has been made toward completion of the Project prior to making the first payment under this Grant. All payments are subject to the State's determination that the Grantee's performance to date conforms with the Project as approved, notwithstanding any other provision of this Grant Agreement. D. Claims shall be submitted to the State within 10 calendar days following the end of the month in which work on or for the Project was performed. The State has the discretion, and reserves the right, to NOT pay any claims submitted later than 35 calendar days following the end of the month in which the services were provided. All final claims and reports must be submitted to the State within 10 calendar days after the expiration or termination of this agreement. Payment for claims submitted after that time may, at the discretion of the State, be denied. Claims may be submitted on a monthly basis only. If Grant funds have been advanced and are unexpended at the time that the final claim is submitted, all such unexpended Grant funds must be returned to the State. E. Claims must be submitted with accompanying supportive documentation as designated by the State. Claims submitted without supportive documentation will be returned to the Grantee and not processed for payment. Failure to comply with the provisions of this Grant Agreement may result in the denial of a claim for payment.

  • Compromise Payment As to any matter disposed of (whether by a compromise payment, pursuant to a consent decree or otherwise) without an adjudication in a decision on the merits by a court, or by any other body before which the proceeding was brought, that such Covered Person either (a) did not act in good faith in the reasonable belief that such Covered Person's action was in the best interests of the Trust or (b) is liable to the Trust or its Shareholders by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of such Covered Person's office, indemnification shall be provided if (a) approved as in the best interest of the Trust, after notice that it involves such indemnification, by at least a majority of the Trustees who are disinterested persons and are not Interested Persons (provided that a majority of such Trustees then in office act on the matter), upon a determination, based upon a review of readily available facts (but not a full trial-type inquiry) that such Covered Person acted in good faith in the reasonable belief that such Covered Person's action was in the best interests of the Trust and is not liable to the Trust or its Shareholders by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of such Covered Person's office, or (b) there has been obtained an opinion in writing of independent legal counsel, based upon a review of readily available facts (but not a full trial-type inquiry) to the effect that such Covered Person appears to have acted in good faith in the reasonable belief that such Covered Person's action was in the best interests of the Trust and that such indemnification would not protect such Covered Person against any liability to the Trust to which such Covered Person would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his office. Any approval pursuant to this Section shall not prevent the recovery from any Covered Person of any amount paid to such Covered Person in accordance with this Section as indemnification if such Covered Person is subsequently adjudicated by a court of competent jurisdiction not to have acted in good faith in the reasonable belief that such Covered Person's action was in the best interests of the Trust or to have been liable to the Trust or its shareholders by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of such Covered Person's office.

  • Claims Payment The Reinsurer will be liable to the Company for its share of the benefits owed under the express contractual terms of the Reinsured Policies and as specified under the terms of this Agreement. The Reinsurer will not participate in any ex gratia payments made by the Company (i.e., payments the Company is not required to make under the Reinsured Policy terms.) The payment of death benefits by the Reinsurer will be in one lump sum regardless of the mode of settlement under the Reinsured Policy. Benefit payments from the Reinsurer will be due within 30 days of the claim satisfying the requirements established under this Agreement. The Reinsurer’s share of any interest payable under the terms of a Reinsured Policy or applicable law which is based on the death benefits paid by the Company, will be payable provided that the Reinsurer will not be liable for interest accruing on or after the date of the Company’s payment of benefits. The Reinsurer’s share will be based upon the same interest rate and days used by the Company to calculate their interest paid. The Reinsurer will make payment to the Company for each such claim. For Waiver of Premium claims, the Company will continue to pay premiums for reinsurance, except premiums for disability reinsurance. The Reinsurer will pay its proportionate share of the gross premium waived by the Company on the Reinsured Policy, including its share of the premiums for benefits that remain in effect during disability. I414849US-12 (11-01-2011) QT#04028US11 (COLI & BXXx) For claims on Accelerated Benefit riders reinsured under this Agreement, the benefit amount payable by the Reinsurer will be calculated by multiplying the total accelerated death benefit rider payout by the ratio of the reinsured Net Amount at Risk, as defined in Exhibit C -1, to the face amount of the Reinsured Policy.

  • Insured Claims To indemnify Indemnitee for expenses or liabilities of any type whatsoever (including, but not limited to, judgments, fines, ERISA excise taxes or penalties, and amounts paid in settlement) to the extent such expenses or liabilities have been paid directly to Indemnitee by an insurance carrier under a policy of officers’ and directors’ liability insurance maintained by the Company; or

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!